Voda Idea dips 11% as SC rejects telcos' plea for new schedule for AGR dues

Vodafone Idea, Bharti Airtel and Tata Teleservices had filed modification applications on the time schedule to make payments of over Rs 1 trillion that they owe to DoT as AGR

Shares of Vodafone Idea reversed their early morning gains and dipped 11 per cent to Rs 3.96 on the BSE on Friday after the Supreme Court rejected the telcos' plea seeking new schedule of adjusted gross revenues (AGR) payments.

Coming down heavily on the Department of Telecommunications (DoT) for not taking coercive action against telcos for failing to repay, the apex court ordered contempt proceedings against Bharti Airtel and Vodafone Idea. READ MORE

Vodafone Idea, Bharti Airtel and Tata Teleservices had filed modification applications on the time schedule to make payments of over Rs 1 trillion that